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re: What’s the one item that you would leave behind
Posted on 4/23/24 at 12:01 pm to fareplay
Posted on 4/23/24 at 12:01 pm to fareplay
Land. Managed land.
My cousin is about to go through the problem alot of Gen X and millennials are going/ gone through, and that's the problem of boomers building multi-million dollar mansions in the middle of nowhere with no market to meet the demand of what it's worth. It's 5 million dollar custom home sitting on a lake and 300 manicured, managed pasture acres in Mississippi, while they live in New Mexico. It's going to be a pain in the arse to upkeep and maintain while trying to find the right buyer for a price that's fair to him, but realistic to the market.
It'd have been far better to not have that house on it when an heir has to deal with it. Leave them acreage that can be leased for hunting, cut for hay, managed for timber, wrp, crp, etc., and they can live where ever they want while keeping the legacy you built for them and having the greatest asset that one can hold: dirt.
My cousin is about to go through the problem alot of Gen X and millennials are going/ gone through, and that's the problem of boomers building multi-million dollar mansions in the middle of nowhere with no market to meet the demand of what it's worth. It's 5 million dollar custom home sitting on a lake and 300 manicured, managed pasture acres in Mississippi, while they live in New Mexico. It's going to be a pain in the arse to upkeep and maintain while trying to find the right buyer for a price that's fair to him, but realistic to the market.
It'd have been far better to not have that house on it when an heir has to deal with it. Leave them acreage that can be leased for hunting, cut for hay, managed for timber, wrp, crp, etc., and they can live where ever they want while keeping the legacy you built for them and having the greatest asset that one can hold: dirt.
Posted on 4/23/24 at 12:32 pm to mudshuvl05
quote:
It's 5 million dollar custom home sitting on a lake and 300 manicured, managed pasture acres in Mississippi
My parents left something similar, but my brothers and I are currently working on making it a profitable cattle farm. We don’t ever plan on selling it, especially with the direction this country is going. Having land that can feed you is going to be one of the more invaluable things an American can have over the next couple of decades
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